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Starting a Company in Hong Kong as a Foreigner
By Miki Lai, Manager Can a foreigner set up a 100% foreign-owned company in Hong Kong? Definitely YES!! Any if expatriates, without Hong Kong permanent residency status, even you are NOT living in Hong Kong at all, and without Hong Kong identity card, YES, you can proceed to set up a 100% wholly-owned private limited company…
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Foreign Sourced Income Exemption (‘FSIE’) for Passive Income
By K.F. Yan, Senior Accounting Manager To be one of the best jurisdictions in Asia for foreign investors looking for investments opportunity and assets management, Hong Kong enjoys a good geographical location, efficiency in tax management, sound legal system and availability of skilled workforce. Relatively low tax rate together with the adoption of territorial source principle…
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How to Build an Effective Compliance Framework in Hong Kong
Compliance risk is one of the main risks any company, no matter big or small, faces, and Hong Kong jurisdiction, in spite of its business-friendly environment and laissez-faire policies, is not an exception. Whether you’ve just launched a startup or already manage a big firm, chances are you must comply with all regulatory obligations in…
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The Responsibilities of Hong Kong Company Director
Under the Hong Kong Companies Ordinance, a Hong Kong private company limited by shares must have at least 1 director, while public companies and companies limited by guarantee – at least 2 directors. If a company has 2 or more directors, they are referred to as board (or board of directors). This role is essential…
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Tax objection and appeal against assessment – Part One
By K.F. Yan, Senior Accounting Manager If you disagree with an assessment, you may lodge an objection and appeal. Under section 64(1) of the Inland Revenue Ordinance (“IRO”), a notice of objection must be received by the Commissioner within one month after the date of the notice of assessment. It must be in writing format…